Cyprus - Country Commercial Guide
Shipping

This is a best prospect industry sector for this country.  Includes a market overview and trade data.

Last published date: 2021-09-30

Overview

The ROC’s shipping registry is the third largest flag in Europe and the island is a global leader in ship management.  Despite the financial crisis of 2013 and the Turkish embargo on ROC flagged and managed ships calling on Turkish ports, Cyprus shipping offers new and exciting opportunities for United States economic and commercial engagement.  The launch of the Deputy Ministry of Shipping as an independent entity under the Presidency in 2018 reflects the growing importance of shipping to the Cypriot economy.   

Leading Sub-Sectors and Opportunities

Products and Services for Shipping:

As a hub for ship management, ship ownership, and vessel chartering services, Cyprus offers much potential for U.S. companies seeking to export shipping-related goods and services, including shipping marine electronics, environmentally-friendly marine engines, ballast water treatment solutions, green technologies, insurance services, crewing services, and marine support services for Cyprus’s budding offshore energy sector.  Limassol, in particular, the second-largest city on the island, has established itself as a leading ship management center, hosting several dozen global leaders in this sector.  U.S. suppliers of any product or service catering to this global industry are well-advised to put Limassol on their marketing radar.  The two professional associations that represent most locally-based shipping companies are the Cyprus Shipping Chamber and the Cyprus Union of Shipowners.

Resources

Shipping Deputy Ministry

Cyprus Shipping Chamber

Cyprus Union of Shipowners